FOR IMMEDIATE RELEASE

          NATUROL HOLDINGS RENEGOTIATES TERMS OF LICENSE AGREEMENT

September 27th, 2002. (OTC:BB-NTUH) Naturol Holdings Ltd. (Naturol) announces
that  on  September  18th,  2002, Naturol's  board of  directors  approved  a
proposal by MGA Holdings Limited (MGA) whereby an exclusive License Agreement
(the   "Agreement"),  which  was  executed  between  Naturol's  wholly  owned
subsidiary  Naturol  Inc.  and MGA was modified to  a  non-exclusive  License
Agreement.

Naturol,  Inc.,  a  wholly  owned subsidiary  of  Naturol,  entered  into  an
Agreement  with  MGA  on the 20th day of August, 2001  granting  Naturol  the
exclusive  North  American rights under certain patents  held  by  MGA  in  a
process  for the extraction of oils from natural plants and other matterials.
Under  the terms of the Agreement, Naturol was obligated to fund and  advance
the  commercial  development of the technology,  which  included  the  annual
payment  of a $360,000 license fee payable quarterly, in addition to  royalty
payments.  As  part  of the consideration for the license  agreement,  Willow
Holdings  Inc. ("Willow"), an affiliate of MGA, received 9,331,321 shares  of
restricted common stock of Naturol as partial consideration for the grant  of
the exclusive license.

On August 28, 2002, MGA notified Naturol that as a result of the inability of
Naturol  to  make any substantial payment of the license fee or to  fund  and
advance  the commercial development of the technology, MGA considered Naturol
in default in its obligations under the terms of the  Agreement. In an effort
to  avoid a dispute over the potential termination of the Agreement,  Naturol
and MGA agreed to the following changes in their relationship:

1.   MGA waived all payment obligations by Naturol under the Agreement.
2.   MGA and Naturol executed a new, revised non-exclusive license agreement,
which agreement superceded all terms and conditions of the original
Agreement.
3.   Naturol has the option of converting the amended non-exclusive license
agreement to an exclusive license agreement.
4.   Willow, agreed to return to Naturol, 9,331,321 shares of common stock of
Naturol issued to Willow.
5.   MGA and Naturol agreed that MGA or its assigns will assume operational
control of  Naturol's interest in its subsidiary, Naturol Canada Limited,
which is 49% owned by Naturol and 51% owned by Isaac Moss and held in trust
for Naturol. Naturol will be provided access to all technological

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developments relating to the technology as referenced in the amended license
agreement, which technology is being further developed at the Prince Edward
Island Food Technology Centre in Canada. MGA will assume and indemnify
Naturol of all outstanding financial obligations incurred by Naturol or
Naturol Canada Limited in reference to the activities of Naturol Canada
Limited, including but not limited to the obligations to the National
Research Council of Canada Industrial Research Assistance Program
Contribution to Firms Agreement. Additionally, MGA will continue to pay all
future financial obligations of Naturol Canada Limited relating to
obligations of Naturol Canada Limited to National Research Council of Canada
Industrial Research Assistance Program Contribution to Firms Agreement.
6.   MGA assumed all financial obligations relating to patent and licensing
issues, including past obligations by Naturol to the firm of Koppel & Jacobs,
patent counsel. MGA will provide Naturol with access to all the benefits of
the patents, copyrights, and other intellectual property rights, which are
derived from or in relation to the technology referenced in the amended non-
exclusive license Agreement.

Concurrent  with the actions taken above, Paul McClory, beneficial  owner  of
Willow, President, CEO and a director of the Company, immediately resigned as
an officer and director of the Company.

For additional information regarding the Company and events disclosed in this
press  release,  readers are urged to review the Company's quarterly,  annual
and  interim  reports that have been filed with the SEC, a copy of  which  is
available on the SEC's website (www.sec.gov).

Forward-Looking  Statements: Except for historical information,  the  matters
discussed  in  this  press release contain forward-looking statements,  which
involve  certain risks and uncertainties that could cause actual  results  to
differ,  including  activities,  events  or  developments  that  the  Company
expects, believes or anticipates will or may occur in the future. A number of
such  statements  are  subject to assumptions, risks and  uncertainties  that
could  cause  actual results to differ from those indicated in  the  forward-
looking  statements, including, but not limited to: any adverse  effects  the
non-exclusive  license will have on the Company, the state of  the  Company's
operations,  the  ability  of the Company to compete  within  the  extraction
industry,  the  Company's  ability to successfully  market  and  provide  its
technology,  the continuation of the arrangements with the Company's  testing
and  development partners, the ability of the Company to meet  its  financial
projections, and general economic conditions. Readers are cautioned that such
statements  are not guarantees of future performance and that actual  results
or  developments may differ materially from those set forth in  the  forward-
looking  statements. The Company undertakes no obligation to publicly  update
or  revise  forward-looking statements whether as a result of new information
or otherwise.

CONTACT:
Naturol Holdings Ltd.
Brad Grieco or Isaac Moss
Tel: 702-450-1600
Fax: 702-450-5790